Page 23 - UKRRptSept23

generates $0.79-$0.87 of GDP within one or two years, and the positive effect continues even after five years.
4.0 Real Economy 4.1 Industrial production
Industrial Production in Ukraine increased 51.20% in March of 2023 over the same month in the previous year, the last data available.
4.2 Inflation
Inflation in Ukraine down to 11.3% in annual terms after 0.6% deflation in July – statistics Consumer prices in Ukraine in July 2023 decreased by 0.6% after rising by 0.8% in June, 0.5% in May and 0.2% in April, the State Statistics Service reported in Wednesday.
Despite the monthly volatility, prices in Ukraine will continue to decrease,
said the Ministry of Economy in its June review of inflation. The study notes that the June increase in electricity tariffs for customers became the dominant factor in the growth of consumer prices by 0.8% for the month. The administrative increase in electricity tariffs for the population by 69.7% (up to UAH 2.64/kWh) led to the overall price level for the Housing, Water, Electricity, Gas, and Other Fuels group to increase by 11.9% (contribution to general consumer inflation: 1%). In general, the price dynamic for most items in the consumption structure maintained a trend of slowing growth, which was
23 UKRAINE Country Report September 2023 www.intellinews.com